- The TRX burn was on the rise and the total accounts were over 143 million.
- The metrics remained positive, but the stochastic was concerned.
Tron (TRX) Bern is stepping up its game in terms of activity, which shows its deflationary nature. This number has grown significantly since 2022, with over 600 TRX tokens removed from circulating supply in the last three months.
🔥@trondao has increased token burning activity, reducing its net issuance rate and making $trx in short supply, which can increase demand and prices
more than 600 million #tron The tokens have been withdrawn from circulation in the last 3 months pic.twitter.com/7Bfzset6Tc
— Club Satoshi (@esatoshiclub) February 20, 2023
How much they cost Today’s value 1,10,100 TRX?
The TRON network is growing
TRON has experienced tremendous growth in recent months in many areas, including adoption. To set the record straight, TRON has already been accepted as legal tender in two countries, which is promising for the blockchain.
The number of TRON accounts is also on the rise and recently surpassed 143 million, demonstrating its growing adoption. In addition, the total number of transactions in clean start it also exceeded 49 million, indicating high network utilization.
👏 Congratulations! Total transactions in #tron crossed 4.9 billion🎊
💪As the fastest growing public broadcaster in the world, #tron There are now over 143 million total accounts and 4.9 billion total transactions. #transcan pic.twitter.com/aUn1uI6H3H
-Tronscan (@TRONSCAN_ORG) February 20, 2023
Capitalizing on the current dynamics of the crypto space in China, on February 20, TRON founder Justin Sun posted a tweet mentioning the power of the network, which could fuel growth.
For example, he noted that most of TRX’s developers, community, and users are located in China and Hong Kong, which has helped build trust and familiarity with Chinese investors who choose initiatives with a strong local presence and entrenchment in the market.
#TRX a cryptocurrency that has gained tremendous popularity in recent years, has established a strong presence in China🇨🇳 and Hong Kong🇭🇰 for various reasons.
— HE Justin Sun 孙宇晨 (@justinsuntron) February 20, 2023
besides, clean start It has also gained popularity in Hong Kong and has cooperated with many Hong Kong listed companies in recent times. Interestingly, Huobi recently announced that he was applying for a cryptocurrency trading license in Hong Kong, and Sun mentioned that his partnership with Huobi would help boost the adoption of digital assets in Hong Kong and China.
TRON’s 2023 is summed up on the metrics front
Like many other cryptocurrencies, 2023 brought good news for TRON as its price rose significantly due to the bullish market trend. According coin market cap, TRX was up 8% last week and was trading at $0.07198 at the time of writing with a market capitalization of over $6.5 billion. The Sentiment chart showed that some other metrics were also positive for TRX over the last 30 days.
realistic or not, here it is TRX market capitalization in terms of BTC
For example, with clean startThe price, along with its volume increased, which legitimized the uptrend. TRX development activity has also increased in recent weeks, which is an optimistic sign for the network. Also, the cryptocurrency industry seems to be bullish on TRX as its positive sentiment has skyrocketed multiple times.
Despite a comfortable month, things could soon take a U-turn as cryptocurrency Statistics As it turns out, at press time, the TRX Stochastic was in an overbought condition, which could lead to a trend reversal.